India’s GDP Rate at -9% for FY 2020-21—Projected by CRISIL

Published on September 12, 2020
Current Context: The CRISIL Rating agency has projected India’s GDP rate at -9% for financial year 2020-21.
India’s GDP Rate at -9% for FY 2020-21—Projected by CRISIL
  • Earlier in May 2020, CRISIL projected that Indian economy will contract by 5% due to the outbreak of COVID-19 which has affected economic condition of the country.
  • As per CRISIL, this 9% contraction is the highest one since 1950s.
  • Also, CRISIL has projected that Indian GDP will grow 10% for FY 2022. And for the next years i.e. between 2023 and 2025, India’s GDP will show an average growth of 6.2% annually.
  • The rating agency also projected that Indian agriculture sector to grow by 2.5% in the current fiscal year. 
  • Static Part: 
    • HQ of CRISIL: Mumbai
    • MD and CEO of CRISIL: Ashu Suyash

Question: 

Q.1 The CRISIL Rating agency has projected India’s GDP rate at -___% for the financial year 2020-21?
a. -9%
b. -8.5%
c. -7%
d. -7.6%

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